Having worked in invoice finance and factoring for over 25 years – the last 10 of which with leading independent finance specialist Bibby Financial Services – it’s amazing to see that SMEs and business owners are continuing to use funding services to help them to grow.
A Thriving Bibby Financial Services
Providing cash-flow solutions to thousands of businesses in the UK and beyond, at Bibby Financial Services, we offer a range of packages to help make funding more flexible for growing companies and SMEs. And with an already successful 6 months behind us, it’s very exciting to see the company thrive in what is now Q3.
114 funding agreements were made by Bibby Financial Services in July this year, providing funding limits of over £40m to new business clients. This marks the company’s best month on record, and shows that businesses are moving away from the more traditional methods of lending.
We’ve seen a shift in attitude towards services like invoice finance and alternative lending in the past year. Businesses are looking for more effective ways to secure their cash-flow without relying on funding from banks and personal accounts.
These extremely promising results come from a recent study conducted by Bibby Financial Services of 1,000 businesses from across the country, of which over half expect to invest in recruitment, training and technology in the following months.
Following on from one of Bibby Financial Services’ most successful months of funding, it’s extremely promising that more and more SMEs and businesses are becoming aware of the benefits of non-bank lending such as invoice finance. Let’s hope for more record-breaking months to come.
About the Author
Having worked in financial services for over 36 years, Andrew Darling is a specialist in invoice discounting, factoring and trade finance solutions. He currently manages the development of business with higher turnover companies at Bibby Financial Services, specialising in corporate finance for businesses with turnover of £5 million or more.